We experimentally investigate the disposition of decision makers to use case-based reasoning as suggested by Case-Based Decision Theory (Gilboa and Schmeidler, 1995). Our subjects face a monopoly decision problem about which they have very limited information. Information is presented in a...

This article considers a simple model of reinforcement learning. All behavior change derives from the reinforcing or deterring effect of instantaneous payoff experiences. Payoff experiences are reinforcing or deterring depending on whether the payoff exceeds an aspiration level or falls short of...